Created Florida’s Blockchain Task Force under the Office of Financial Services. 13 Members were appointed by Governor Desantis, The President of the Senate, the Speaker of the House, and the Chief Financial Officer.
SB 1024 passed both the House and Senate and signed was singed into law by the Governor. Went into effect upon being signed.
The Florida Blockchain Task Force met the following times: September 23, 2019, October 28, 2019, December 13, 2019, and February 21, 2020.
This Bill created the Florida Digital Service to deliver better government services through the implementation of transformative technologies like blockchain, artificial intelligence, and other high tech solutions. All Web3 projects run by the State of FL will be run through this agency.
Created the Financial Technology Sandbox, within OFR, to allow innovators to test new products and services using exceptions of specified general law and waivers of the corresponding rule requirements under defined conditions in the consumer finance, payment instruments sellers, and money transmitter programs.
The Bill loosens Florida’s position on licensing requirements for virtual currency activity by clarifying that a money transmitter license is only required for persons acting as intermediaries between two parties if the intermediary has the unilateral ability to execute or prevent a transaction.
The goal of the unit is to develop and coordinate the regulatory policies required to provide Florida’s financial marketplace with stability, predictability, and security in the digital marketplace.